Here are the 3 common ways for getting new clients or investors:
1. HUNTING: This approach is commonly the first approach that a new business owner uses. It’s rather like a caveman hunting for food — going out hunting, tracking the food, then going in for the kill. It’s random and very time-consuming. But as a new business owner, it’s often the only thing that we know when we start out.
2. FARMING: The farming approach is just like it says – plant a seed, nurture it and then harvest. So in business, it’s about slowing building and fostering relationships that will at some point in time turn into a client. Not a bad approach but there is often a LONG lead time. I know that my prospects are doing this when they say “I’m going to the networking events; I’m meeting with people but it’s taking so much time and then I have trouble ‘closing’ the sale”.
3. FISHING: A seasoned business owner would rather fish i.e. let the fish come to you. It’s about using the right line, the right bait, in the right pond.
Expert fishermen know:
1. They need to understand their fish – which breed of fish; what they eat; where they breed; where they live. Knowing your ideal client/investor intimately is the foundation for attracting more of the right kinds of clients.
2. Next, the fisherman knows he needs the right systems and resources to attract the right fish (the right rod, the right hook, the right reel, etc). For your business growth, you really need to understand exactly and specifically what your ideal client/investor really, really wants so you can offer them the right solution.
Lastly, the expert fisherman needs to offer the right solution – he offers specifically the right bait on the right hook for the exact type of fish he wants to catch. This approach for prospecting uses minimal long-term effort for maximum gain.
So would you rather hunt, farm, or fish?
Of course, there are many ways that you can become a more efficient fisherman/prospector! Becoming the sought-after expert (what I call the Undeniable Authority), can be enhanced in several different ways.
Over the next couple of weeks on the Work Less PROFIT More business podcast, I discuss 3 ways you can elevate your credibility, authority and reputation:
- Authoring your own book – Episode 93 – this week
- Podcast guesting – Episode 94 – next week
- Signature talk – Episode 95 – the following week
But the key to remember is that NONE of the above work if you aren’t clear and extremely specific on your basic ‘fishing’ techniques. You will struggle to scale your business if you don’t have the foundational marketing elements in place.
Foundational marketing elements include being able to:
- Identify and speak to ONE specific ideal client/investor
- Clearly ‘speak’ to their ONE specific problem
- Share your ONE specific solution to that problem
It all comes down to being seen as different, so you get noticed, so you get chosen.
Want to become the sought-after expert?
Want to become the Undeniable Authority?
Would you rather fish?
If you’ve answered YES, then I’ve got just the right support for you!
YOU CAN DO THIS
Other Resources on the same topic: